Here’s What Analysts Think About QXO

QXO, Inc. (NYSE:QXO) is one of the 10 Stocks Under $20 to Buy According to Analysts. On October 20, Vertical Research analyst Adam Baumgarten initiated coverage of QXO, Inc. (NYSE:QXO), giving the stock a Buy rating and setting the price target at $30.

Previously, on October 9, Truist Securities had also maintained a Buy rating on QXO, Inc. (NYSE:QXO) but reduced its price target from $30 to $28. The research firm noted there is weakness in roofing volumes because of storm activity and weaker trends in new construction.

Truist Securities also pointed out that winter months could cause inventory reductions in distribution channels, which can hurt production for manufacturers of roofing materials.

The firm believes weak pricing will come in as the industry adjusts before the 2026 season, which can create more challenges for companies like QXO, Inc. (NYSE:QXO). Despite this, Truist Securities kept its Buy rating on QXO, Inc. (NYSE:QXO) and pointed out that the company is focused on mergers and acquisitions, “which could occur at any time.”

QXO, Inc. (NYSE:QXO) is a major distributor of roofing, waterproofing, and complementary building products in North America.

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Disclosure: None. This article is originally published at Insider Monkey.